Low Mortgage Rates Pay Down Principle Fast!
Take Advantage of Low Interest Mortgage Rates Today!
We’ve heard the sales pitch for a long time now – interest rates are at historic lows. Refinance your home or buy a new home today and save money. The good news is that this information is completely true, because you can get lower interest rates than ever before. The bad news is that because we’ve heard the same sales pitch about low interest rates over and over again, we just automatically tune it out. Let’s tune in again and examine the financial gains you can achieve with a lower mortgage rate.
Lower Mortgage Rates Equate to More Principal Payoff
When you are paying a lower interest rate on your mortgage, you have the ability to pay off the principal of your home loan much more quickly than when compared to mortgages that have higher interest rates. That has two primary benefits to you that you can realize immediately:
- It allows you to be able to build equity in your home very quickly, and
- It allows you to realize a monthly monetary savings that you can save, invest, or put into your mortgage to continue reducing the principal amount.
The more you reduce the principal amount you owe on your home, the less you’ll have to pay in interest payments across the lifetime of your mortgage. For some homeowners, this means potentially saving tens of thousands of dollars over the life of their mortgage! When you consider the fact that these dollars are after tax dollars, you are talking about money that goes directly to improve the health of your bottom line.
Put Yourself Into a Better Financial Position
Financial emergencies can happen to any of us at any time. A lifetime of savings can sometimes be wiped away by one serious event. That’s why it is important to have strong financial options available to you should the unforeseen arise. To that extent, a lower interest rate on your mortgage is a strong ally. Equity in your home gives you leverage, and with today’s lower mortgage rates, you can realize almost $10,000 in principal reduction in just five years. That’s money you can leverage later on to improve your property, take care of an emergency, or keep in reserve. Some homeowners choose to utilize their extra money from these lower mortgage rates to pay off debts. Others choose to make investments to improve their net worth. Still others simply forward the savings directly into the principal they owe on their homes. Whatever you decide to do, just remember that none of this happens if you decide to accept the status quo!
Refinance or Buy New Your New Home Today!
At Higgelke Mortgage Group, you can access these lower rates today and start putting some extra money into the pockets of your jeans that are after tax dollars instead of just sending them off to some bank somewhere. These rates are for current homeowners who are looking to refinance and for folks who are looking to purchase a new home or even their first home. The ability to realize almost $30,000 in total savings is something that really is an opportunity that is just too good to ignore. Remember to research, don’t be afraid to ask questions, and seek out the answers you need for your unique home situation today!
If you have additional queries about your mortgage, please contact us at Higgelke Mortgage Group.